The company will use available funds to repay the amount, which is the remainder due on a $555 million facility maturing in December 2015.
The lender made a net profit of Dhs1.33 billion ($362.1 million) in the three months ending March 31.
The exchange made Dhs215.1 million ($58.6 million) in the opening three months of 2014, compared to Dhs27 million in the same period last year.
The sources said it was currently unclear if STC was looking to complete a sukuk issue in the local Saudi market.
The 10-year loan is the first such facility agreed between ADCB and NIC.
The government’s holding in the operator will drop to 51 per cent following the completion of the second and final part of the share sale.
The company posted a net loss of 8.2 million Kuwaiti dinars ($29.2 million) for the 2013, against a 3.3 million dinar loss a year earlier.
The company said its profit for the three months to March 31 would likely be Dhs265 million ($72.2 million).
UAE lender beats analyst expectations in the first quarter.
Head of Oman’s Central Bank says infrastructure projects are generating economic activity.
No information was given as to the stake size being acquired, but some current shareholders will remain as minority shareholders, Fajr Capital said.
Initial price thoughts on the Islamic bond have been set between 5 and 5.125 per cent.
Calls for investors in projects consisting of 27 million square metres of new prime floor space and 220,000 homes.
Investcorp said the acquisition would help Totes Isotoner expand its geographic footprint and product range.
The country has been considering an IPO of its stock market for years, but political infighting and entrenched bureaucracy delayed it.
The lender made a net profit of Dhs409.5 million ($111.5 million) in the three months to March 31.
Net loans and advances climbed 17 per cent to 1.31 billion rials, while customers’deposits increased 8 per cent to 1.41 billion rials.
Net earnings in the three months to March 31 were SAR126.4 million ($33.7 million), compared to SAR110.1 million in the same period a year earlier.
The company lost 913 million riyals during the three months to March 31, compared to 657 million riyals during the same period of the previous year.
The company, which filed a lawsuit, claims Zain’s takeover had stopped the firm buying Iraqna, causing it losses of $4.5 billion.
Gulf International Bank plans to issue floating rate notes with a lifespan of five years through a private placement in Saudi Arabia.
UAE lender says the rebrand signals its clear plans to grow.
Despite a recovery in yields across asset classes such as equities and real estate, the liquidity and volatility of the forex industry remains attractive to regional investors.
The portfolio, which comprises loans to SMEs in the UAE, will strengthen the bank’s position in the sector.
The bank made a profit of $26.75 million in the first three months of 2014, according to a statement in Oman bourse.
Net profit rose to 26.06 million dinars in the first three months of 2014 from 23 million dinars in the same period a year ago.
This is the latest step to widen foreign access to Chinese capital markets.
The study found that the majority of parents in the UAE were financially ill prepared for their children’s education.
The Abu Dhabi-based Etihad has been looking at Alitalia’s books for a possible investment since the start of the year.
Mubadala, which has stakes in GE and private equity firm Carlyle, saw net profit tripling over the last year.